NEW YORK, July 24, 2008 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating Zimmer Holdings Inc. ("Zimmer" or the "Company", NYSE:ZMH) for securities law and other violations in light of the revelation on July 23, 2008 that high rates of repeat surgery involving one of its key products, the Durom Cup hip replacement component, caused the Company to suspend the product's U.S. sales. The Company also cut its 2008 financial forecast, largely because it projected a loss of $20 million to $30 million in hip-products sales related to the Durom suspension. It is expected that the product will be off market into 2009, and analysts predict that much of the lost revenue will not return. Upon the revelation of this information, Zimmer shares dropped over $4.00 on greatly increased volume.
If you are interested in discussing this matter please call 1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
It appears that the Durom product has resulted in numerous complaints by patients and some surgeons of early and unexpected failure of the device. It appears that there may be a design problem which had not previously been revealed. The Company maintains there is no defect in the product and it appeared to blame the surgeons for any patient issues. At least one surgeon who had previously stopped using the product asserted that the Durom was a bad design.
If you: (i) purchased Zimmer shares between July 6, 2006 and July 22, 2008 at prices higher than the present market price (regardless of whether you have sold them); (ii) you have held Zimmer shares for a substantial period of time and still hold them; and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.